Word: loans
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Dates: during 1930-1939
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Surprise. Few practices arouse more bitterness among utility men than that of Federal money to build municipal plants which compete with private companies. When the PWA made a loan and grant to establish public plants in four small northern Alabama communities, the constitutionality of the project was promptly attacked by Commonwealth & Southern's subsidiary Alabama Power Co. A similar action was brought by Duke Power Co. against Greenwood County, S. C., which obtained a PWA loan and grant for construction of the Buzzard Roost hydro-electric project on the Saluda River. Both companies charged that PWA Administrator Harold...
...While the loan might frustrate complainant's hopes of a profitable investment," droned Justice Sutherland, "it would not violate any legal right. . . . Each of the municipalities in question has authority to construct its proposed plant and distribution system in competition with petitioner, and to borrow money, issue bonds and receive grants for that purpose." The Court further announced that it would dispose of the Duke Case on similar grounds...
...history. In 1936 the B. & 0. made $4,538,975. Last week, it declared not only that it faced a probable loss of $1,352,004 for 1937 but that it could not meet its payroll, maintain its present lines or meet maturing obligations without an immediate RFC loan...
John Barrymore, Wallace Beery, and many another in the film colony who had deposits in Los Angeles' Guaranty Building and Loan Association in 1930, find it difficult to forget the name of the Guaranty's former secretary and general manager, one Gilbert H. Beesemyer. Seven years ago, they and 24,000 other Guaranty depositors discovered that he had stolen eight million dollars from the company (TIME, Jan. 5, 1931). Embezzler Beesemyer went to San Quentin Prison for 44 years. Since then no less than 2,500 Guaranty depositors have gone to the poorhouse or the insane asylum, some...
...Poland, M. Delbos was entitled to a good reception, for plans are afoot for a French loan to erect a great Polish armament and heavy industry centre on the Vistula River. Hence Warsaw gave M. Delbos a festive few days. But Poland is notoriously half in Hitler's arms, and long, lean Colonel Josef Beck, Polish Foreign Minister and player of ticktacktoe with General Hermann Wilhelm Goring, was adamant against obliging M. Delbos by so much as a communique lauding the League of Nations. The most that grudging Beck would do was sign with Delbos a communique that "both...